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Several ECB officials, including Bundesbank-style concern voiced by Villeroy and board member Schnabel, have publicly worried about the weakening euro. The euro has fallen about 5% against the dollar since March and roughly 13% over the past year.
A weaker euro raises eurozone import costs, including feed ingredients priced in dollars, and adds inflation pressure that may push the ECB toward tightening, which can support the euro over time.
think.ing.comCarsten BrzeskiMay 23, 2022After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% over 20.
After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
